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      02-12-2006, 05:45 PM   #1
Mang
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What's the best way to start a lease negotiation?

Almost all of you, tell us (lease newbies) to always negotiate the price of the car first, before coming to lease tersm. My question to you lease experts is, how do start that convo? The last two cars I've bought used and paid cash so I had lots of leverage. But the lease game is new to me.

What's the 1st thing I say or do when I walk into a dealership looking to lease?
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      02-12-2006, 05:49 PM   #2
mikepinkerton
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The first thing is never step foot in the dealership. Deal only with the internet/fleet managers over email until you come in to sign on the dotted line.

-Mike
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      02-12-2006, 06:32 PM   #3
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I never lease, but this is what I would probably do.

1. Know exactly what you want. Look at all the options and then do a search on this forum and look at pictures or read the opinions of the E90Post members if you're unsure about it. Make it into a list and stick to it. This is so the dealer doesn't talk you into getting things you don't need/don't want/can't afford.

2. Since you're leasing, do a search on this forum for the current interest rates, money factors, etc, as well as what current members are paying for a similarily spec'ed car.

3. Make some of your own preliminary calculations. Write down invoice prices, retail prices, and do your loan numbers.

4. Maybe post the details of your specs and your calculations to see if they are accurate and to get some input and/or corrections

5. Armed with this information, walk into your dealer and tell them what you want. Let them make you an offer. If it's lower than what you have come up then it's probably a good deal. Ask how long it's valid for and come back on the forum to double check what the dealer is offering.

6. If you're happy with it, go ahead and order. If not, start bargaining until you're happy. Refer to the calculations you've made and the information from this forum. If you feel like you're not going anywhere, talk to another dealer.

Just a few things to note:
* Start with a maximum budget and stick to it.
* Don't let the dealer talk you into things
* Actively use the wealth of information on this forum
* Only agree when you're 100% happy. If you don't feel right, then don't agree to anything. E90's will still be around tomorrow.

Good luck!
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      02-12-2006, 06:40 PM   #4
fletcher969
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I concur...deal via the internt first as I did. Also...

1. Inquire with as many dealers as is practical, because you can purchase anywhere, service where it makes the most sense. Price should therefore be king when finding a place to purchase (though later consider servicing your vehicle at the dealer where you purchased it if practical).

2. Let the dealers know you are vying for their most aggressive price, and deal from invoice, not MSRP (you can use the internet to get invoice pricing, and use their "under MSRP" price to figure "over invoice" if necessary), and have not reservations about letting them know they are competing with other dealerships for your business. Keep them informed of your best offer, and be prepared in the event they cannot match it (i.e. don't BS them trying to get a better price...not only is it not really ethical, it may land you with a higher price if no other dealer is willing to deal much either).

3. Look for the latest lease terms BMW publishes on this or other forums, and know ahead of time what the money factor and residual values are. Get a lease calculator to help you establish your target numbers, and manipulate any financial information you might be provided by the dealers for direct comparison with your target and other dealers' offers.

4. Search the internet for any information about lease terms and terminology. Know what is to be expected from a lease. I believe Edmunds.com is a good source for said information. Google/Yahoo if necessary.

5. Search the internet for articles that explain the dealer process, and how it is they earn their profit. Not only will it allow you to get an idea why some operate the way they do, it will provide you with the means to identify those with whom you do or do not want to deal/negotiate (all are not bad by any stretch). Never mind it will leave you with a sense of confidence when you actually see some of their tactics in action. Again, a site like Edmunds.com is a good source. Again, Google/Yahoo if necessary.

Remember...knowledge is power, and in the case of dealing for a car, it means being prepared to negotiate effectively for a low, but fair price (i.e. one that helps both sides of the deal - balance!). Once you've found the best price, setup a time to meet with the sales person at the dealership, and have whatever information in front of you in a nice folder or such, and don't be shy to challenge the sales person if there are discrepencies...they sometimes just overlook stuff, or are not always prepared as you will be. Make sure anything agreed to is put into writing, and if you are taking delivery of the car that day, or in the next day or two, negotiate some of the dealer options and "extras" like stem caps, floor mats, and the like (some of which they will throw in free if your negotiated price leaves them enough room to do so at a reasonable profit). If you're not taking delivery immediately, either negotiate these "extras" nearer the date you'll take delivery, or negotiate them in writing so you can present their "promises" later when they may have forgotten (they deal with people, and they can easily forget).

Other than that, and I'm sure I'm forgetting some things (in a hurry to get to my girlfriend's house), just treat it like any other negotiation, and let your preparation guide you.

Good luck.

Fletch!
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      02-12-2006, 07:29 PM   #5
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Do it by email. Tell them: this is my MF, this is my acquisition fee, this is my negotiated price. Can you do that? If not, move on.

The way to buy cars has changed. If you have driven the car, there is no reason to visit the dealership until you pick it up.

Edit - don't lease if you don't know exactly how it works. I took my laptop but didn't need to pull it out
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